AIB are now offering Negative Equity Trade Up Mortgages to customers who want to buy a new home of a greater value than their current home is worth.
If your house is in negative equity and you want to trade up, a Negative Equity Trade Up Mortgage allows you to add the negative equity balance from your old property onto the Mortgage for the new property.
It is hoped that this scheme, which is also offered by the likes of Bank of Ireland, will allow people who bought during the boom years to move to homes more suitable to their needs as they look to upscale or downscale depending on the current size of their families.
Full details on the Negative Equity Trade Up Mortgage can be found here.
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